TeraWulf (NASDAQ:WULF) Shares Gap Down – What’s Next?

TeraWulf Inc. (NASDAQ:WULF) shares gapped down before the market opened on Monday . The stock had previously closed at $4.77, but opened at $4.29. TeraWulf shares last traded at $4.88, with a volume of 12,617,960 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WULF. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of TeraWulf in a report on Monday, January 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price objective on shares of TeraWulf in a report on Monday, January 13th. Atb Cap Markets upgraded shares of TeraWulf to a “strong-buy” rating in a research note on Sunday, January 5th. Keefe, Bruyette & Woods assumed coverage on TeraWulf in a research report on Wednesday, January 8th. They issued a “market perform” rating on the stock. Finally, B. Riley increased their price objective on TeraWulf from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, TeraWulf presently has a consensus rating of “Buy” and an average target price of $8.64.

TeraWulf Price Performance

The stock’s fifty day simple moving average is $6.29 and its 200-day simple moving average is $5.53.

Institutional Trading of TeraWulf

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of TeraWulf by 74.2% during the 4th quarter. Van ECK Associates Corp now owns 4,763,831 shares of the company’s stock worth $26,964,000 after purchasing an additional 2,028,383 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in TeraWulf during the third quarter worth approximately $9,489,000. Charles Schwab Investment Management Inc. increased its holdings in TeraWulf by 258.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,363,951 shares of the company’s stock valued at $11,063,000 after purchasing an additional 1,704,013 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TeraWulf by 12.9% during the third quarter. Geode Capital Management LLC now owns 7,183,123 shares of the company’s stock worth $33,623,000 after purchasing an additional 820,354 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in TeraWulf by 1,389.8% in the 3rd quarter. Tidal Investments LLC now owns 868,692 shares of the company’s stock valued at $4,065,000 after buying an additional 810,382 shares during the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

TeraWulf Company Profile

TeraWulf Inc, together with its subsidiaries, operates as a digital asset technology company in the United States. The company develops, owns, and operates bitcoin mining facilities in New York and Pennsylvania. It is also involved in the provision of miner hosting services to third-party entities. The company was founded in 2021 and is headquartered in Easton, Maryland.